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Monday, September 30 • 12:00 – 1:00 p.m. ET
Troutman Pepper partner Alexandra Steinberg Barrage will moderate the Women in Housing and Finance’s Public Policy Lunch Fireside Chat with FDIC VC Travis Hill on Monday, September 30, 2024 at K&L Gates and virtually via Zoom. They will discuss current topics of interest in
Today, both the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) finalized new guidelines regarding bank mergers. According to the agencies, these updates aim to enhance transparency and provide clearer guidance on the evaluation of merger applications under the Bank Merger Act (BMA).
On September 17, the Federal Deposit Insurance Corporation (FDIC) announced a notice of proposed rulemaking (Proposal) aimed at enhancing recordkeeping for bank deposits received from fintech and other third-party, non-bank companies. The FDIC is accepting public comments on the Proposal for 60 days after publication in the Federal Register.
Troutman Pepper Partner Matthew Bornfreund spoke at the ABA Business Law Section Fall Meeting in San Diego on September 12, 2024. The discussion focused on the FDIC’s brokered deposits NPR.
Troutman Pepper Partner Alexandra Steinberg Barrage was a featured speaker at the Federal Reserve Bank of San Francisco and DFPI Office of Financial Technology Innovation’s office hours on September 12. The discussion focused on the impact of financial data on access and financial health.
This is the first of three articles focused on a key question: as bank-fintech partnerships continue to play a vital role in driving financial services, how does the industry make this system safer and better?
Fintechs and their partner banks are on edge. Regulators are concerned. But as counselors to a wide range of banks and nonbanks, we are confident that the bank-fintech partnership model is not broken. We have seen these partnerships work well — not just for clients, but for consumers and other end-users — with rigorous, risk-based controls that satisfy both the regulators and the public.
James Stevens, co-leader of Troutman Pepper’s Financial Services Industry Group, was quoted in the September 3, 2024 American Banker article, “Where Have All the New Banks Gone?“
Alexandra Barrage, a partner in Troutman Pepper’s Corporate Practice Group, was quoted in the August 29, 2024 S&P Global Market Intelligence article, “FDIC Proposal on Change-in-Control Notices Has Potential Ripple Effects on M&A.”
Alexandra Barrage, a partner in Troutman Pepper’s Corporate Practice Group, was a guest on the August 26, 2024 Breaking Banks podcast, “Episode 559: Hot Takes: The ERAS Tour of Brokered Deposits.”
Alexandra Barrage, a partner in Troutman Pepper’s Corporate Practice Group, was quoted in the August 23, 2024 Bank Director article, “Brokered Deposits Rule Threatens to Upend Bank Balance Sheets.”
“In the worst case, these [newly designated brokered deposits] will have to get offloaded in a way that potentially puts those banks at even